Victoria’s Secret price target raised to $21 from $16 at Wells Fargo

Wells Fargo analyst Ike Boruchow raised the firm’s price target on Victoria’s Secret to $21 from $16 and keeps an Equal Weight rating on the shares. Victoria’s Secret’s Q3 print was in line with expectations and all about go-forward commentary, the analyst tells investors in a research note. The company also noted that November sales and margins “was our best monthly performance in ~2 years,” which the firm thinks will drive shares higher.